ht ences Jill and Jack both have two pails that can be used to carry water down from a hill. Each makes only one trip down the hill, and each pail of water can be sold for $5. Carrying the pails of water down requires considerable effort. Both Jack and Jill would be willing to pay $2 to avoid carrying one pail down the hill, and an additional $3 to avoid carrying a second pail down the hill. a. If Jack and Jill each must decide whether to carry one or two pails of water down from the top of the hill, how many pails will each child choose to carry? pail(s). b. Jill and Jack's parents are worried that the two children don't cooperate enough with one another. Suppose they make Jill and Jack share equally their revenues from selling the water. Given that both are self-interested, construct the payoff matrix for the decisions Jill and Jack face regarding the number of pails of water each should carry. Instructions: In the payoff matrix below, enter the payoffs for each child for each possible combination of strategies. Entries should represent the net benefit to each player. Round your responses to two decimal places. Jill Carry 1 pail Carry 2 pails $ for Jack Carry 1 pail $ for each $ for Jill Jack $ for Jack Carry 2 pails $ for each $ for Jill What is the equilibrium outcome? Jill will carry two pails and Jack will carry one. Jill will carry one pail and Jack will carry two. Each will carry one pail of water. Each will carry two pails of water.